LIC Premium Calculator — Free Online Tool (2025)
Calculate LIC premiums for Jeevan Umang, Jeevan Utsav, Jeevan Labh & more. Use our free, instantly updated online calculator. Supports all riders and payment modes.
LIC Plan Selector
Quick Answer: Sample LIC Premium Estimates
Here’s a quick look at estimated yearly premiums for a ₹10 Lakh Sum Assured across popular plans. Use the calculator above for precise figures based on your profile.
| Age | Jeevan Umang | Jeevan Labh (16 yr PPT) | Jeevan Utsav |
|---|---|---|---|
| 30 Years | ~ ₹56,000 | ~ ₹58,500 | ~ ₹65,000 |
| 35 Years | ~ ₹68,000 | ~ ₹61,000 | ~ ₹78,000 |
| 40 Years | ~ ₹84,000 | ~ ₹64,500 | ~ ₹95,000 |
Disclaimer: These are illustrative estimates for a non-smoker male, standard life. Actuals will vary.
What is this LIC Premium Calculator & How Does It Help You?
Think of the LIC Premium Calculator as your personal financial assistant, designed to make sense of policy costs. Instead of navigating complex documents or waiting for an agent, this tool provides a clear, instant estimate of your premium. You just need to provide a few key details:
- Your age and gender
- The Sum Assured (the coverage amount you want)
- How long you wish to pay premiums (the Premium Paying Term or PPT)
- How often you'll pay (monthly, quarterly, half-yearly, or yearly)
Once you input this information, the calculator does the heavy lifting and presents an estimated premium. It’s a simple, fast, and reliable way to get started with your financial planning.
Why Should You Use a Free LIC Online Premium Calculator?
Using an LIC premium calculator online for free is about gaining clarity and saving time. Here’s what you achieve in just a few clicks:
- Eliminate Guesswork: Get fast, dependable premium estimates without complex math.
- Easy Comparisons: Effortlessly compare what you’d pay for different popular plans like the Jeevan Umang premium calculator vs. the Jeevan Labh premium calculator.
- Budget with Confidence: Instantly see how your premium changes with different payment frequencies, helping you choose what best fits your financial situation.
- Full Cost Transparency: If you're considering riders like Accident or Critical Illness cover, the LIC premium calculator with riders shows you the exact incremental cost.
How to Use the LIC Premium Calculator (Step-by-Step)
- 1
Select Your Plan
Start by choosing your desired LIC plan from the dropdown menus. Using a preset like 'Jeevan Umang' ensures the calculator uses the correct parameters for that policy.
- 2
Enter Your Details
Input your age, gender, desired Sum Assured (the coverage amount), and the Premium Paying Term (PPT).
- 3
Click Calculate
The tool processes your inputs using LIC's formulas to determine the base premium before any taxes or optional riders.
- 4
View Your Results
The calculator displays your estimated premium for yearly, half-yearly, quarterly, and monthly frequencies, allowing you to see which payment plan best suits your budget.
Real Examples of LIC Premium Calculation
Example 1: Long-Term Planning with Jeevan Umang
A 30-year-old male planning for retirement with Jeevan Umang. He wants a Sum Assured of ₹5,00,000 and will pay premiums for 20 years. His estimated yearly premium would be approximately ₹34,500. This breaks down to about ₹2,875 per month, making it easier to budget.
Example 2: Adding a Safety Net with Jeevan Utsav
A 28-year-old considering Jeevan Utsav for a ₹7,50,000 cover. The base premium is around ₹41,200. By toggling the 'Accident Benefit' rider, they'd instantly see the premium rise to about ₹43,000. This transparency makes the cost of extra protection crystal clear.
Disclaimer: These figures are for illustration only. Your final premium is always determined by LIC after their underwriting process.
Plan Presets Available In Our Calculator
Different LIC plans have unique rules. Our presets automatically apply the correct parameters, giving you a more accurate estimate. We support popular plans including:
- Jeevan Umang (UIN: 512N317V02)
- Jeevan Utsav (UIN: 512N361V01)
- Jeevan Labh (UIN: 512N304V02)
- Index Plus (UIN: 512N355V01)
- New Pension Plus (UIN: 512N338V02)
- Saral Pension (UIN: 512N342V02)
LIC Premium: Monthly vs Yearly Payments
Choosing between monthly and yearly payments affects your total outflow. While monthly payments are lighter on the wallet, they come with a small 'modal loading' charge. Paying annually is almost always cheaper.
How Conversion Works: LIC applies specific factors to convert the yearly premium. Here's the formula:
- Half-yearly Premium = Yearly Premium × 0.5098
- Quarterly Premium = Yearly Premium × 0.2575
- Monthly Premium = Yearly Premium × 0.0879
Our calculator does this math automatically when you switch frequencies.
How Riders Impact Your Premium
Riders are optional add-ons that provide extra coverage for specific events. While incredibly useful, they come at an additional cost.
Example: Adding an Accidental Death & Disability Rider
For a 30-year-old male with a ₹10 lakh Sum Assured, the base premium might be ₹25,000. Adding an Accidental Death & Disability Benefit Rider for the same amount could increase the premium by ₹1,000 - ₹1,500 per year. Our calculator lets you toggle these riders to see the exact financial impact in real-time.
Tips to Lower Your LIC Premium
Here are a few actionable strategies to make your life insurance more affordable:
- Pay Annually: You can save 2-3% of your premium compared to paying monthly due to modal loading charges.
- Start Early: The most significant factor. Buying a policy in your 20s can be up to 30% cheaper than buying the same policy in your late 30s.
- Re-evaluate Riders: Only add the riders you genuinely need. While helpful, they increase the cost.
- Compare Plans: Don't just settle on the first plan you see. A different product might offer similar benefits for a lower premium.
Frequently Asked Questions (FAQ)
Next Steps After Using the Calculator
- Download Your Results: Save a PDF of your calculation so you can refer to it later or discuss it with your family.
- Compare Plans: Run a few more calculations for other plans to see which one gives you the best value for your needs.
- Consult an Advisor: If you're still unsure, request personalized help from our team of Certified Financial Planners.
- Contact an LIC Agent: When you're ready to buy, contact an official LIC agent to get a final quote and complete the purchase process.
Sources & References
We use official LIC plan documents, UINs, and actuarial formulas for our calculations. For more details, you can refer to LIC's official website.
Visit LIC of India Official WebsiteYour First Step to Financial Security
Figuring out your LIC premium is the first, most important step towards securing your family's future. By using this calculator, you've replaced guesswork with clarity. You can now confidently budget for your policy, compare different options, and make a decision that perfectly aligns with your financial goals. Your journey to financial peace of mind starts here.
Still not sure which funds to pick? That's completely normal. For a more personalized approach, I can help you get a curated list of funds based on your specific goals and risk profile.
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